Royal Bank of Canada Has $16.91 Million Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Royal Bank of Canada increased its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 508.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,145 shares of the industrial products company's stock after purchasing an additional 57,787 shares during the period. Royal Bank of Canada owned 0.90% of UFP Technologies worth $16,907,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Barclays PLC boosted its stake in UFP Technologies by 390.6% in the third quarter. Barclays PLC now owns 12,937 shares of the industrial products company's stock valued at $4,098,000 after acquiring an additional 10,300 shares during the period. SG Americas Securities LLC boosted its stake in UFP Technologies by 95.6% in the fourth quarter. SG Americas Securities LLC now owns 2,220 shares of the industrial products company's stock valued at $543,000 after acquiring an additional 1,085 shares during the period. Inspire Investing LLC boosted its stake in UFP Technologies by 29.9% in the fourth quarter. Inspire Investing LLC now owns 1,681 shares of the industrial products company's stock valued at $411,000 after acquiring an additional 387 shares during the period. Tributary Capital Management LLC acquired a new position in UFP Technologies in the fourth quarter valued at approximately $122,000. Finally, KBC Group NV boosted its stake in UFP Technologies by 37.9% in the fourth quarter. KBC Group NV now owns 375 shares of the industrial products company's stock valued at $92,000 after acquiring an additional 103 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Stock Performance

Shares of UFPT traded up $4.23 during mid-day trading on Thursday, reaching $233.17. 45,414 shares of the company's stock traded hands, compared to its average volume of 86,891. The business's 50-day moving average price is $215.71 and its 200-day moving average price is $245.77. The stock has a market capitalization of $1.80 billion, a P/E ratio of 33.25 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57. UFP Technologies, Inc. has a 12 month low of $178.26 and a 12 month high of $366.41.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.42. The company had revenue of $148.15 million for the quarter, compared to analysts' expectations of $139.93 million. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

Insider Buying and Selling

In related news, SVP Christopher P. Litterio sold 1,473 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $220.12, for a total transaction of $324,236.76. Following the sale, the senior vice president now owns 12,585 shares of the company's stock, valued at $2,770,210.20. The trade was a 10.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on UFPT. Lake Street Capital set a $252.00 target price on UFP Technologies and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James began coverage on UFP Technologies in a report on Friday, March 28th. They set a "market perform" rating on the stock.

UFP Technologies Profile

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.